Tag Archives: POD
Should You Use a Payable On Death (POD) Account?
Payable on death (POD) accounts can provide a more direct path to transferring some of your assets to your loved ones after you pass. These accounts are exactly what they sound like—an account you establish at a bank or credit union with a designated beneficiary, who takes control of the assets immediately upon your death. […]
The Pros and Cons of Pay on Death Designations
Pay on death (POD) designations are a common way for individuals to pass on account assets to their beneficiaries. These designations come with a variety of benefits, including: Avoiding the cost and hassle associated with probate: Perhaps the single-biggest reason people choose to use POD accounts is to avoid the probate process when assets are […]